Here's why already red-hot tech juggernauts will keep climbing through the election, according to Goldman's US equity chief | Markets Insider

David Kostin told CNBC on Tuesday that technology will continue to grow and remain strong in the long term.

The Goldman Sachs US equity chief also said cyclicals will benefit in the near term. But he said:"The fundamental argument of where the growth is happening still is in technology." David Kostin told CNBC on Tuesday that technology will continue to grow and the"fundamental argument of where the growth is happening still is in technology."

Kostin explained that one of the reasons for this view is the high growth potential technology stocks have in a recovery. While in the near term Kostin expects cyclical stocks, financials, and industrials to be"beneficiaries," in the longer term"is still where you get better growth out of technology.

Tech will climb in the long term, but I fear the present overvalued price and a bubble. A correction in the price might occur before this long-term-climb.

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